One day, President Obama hosts a “Fiscal Responsibility Summit.â€Â Three days later, he releases a budget forecasting near trillion dollar annual federal deficits for the next decade.Â There’s quite a mismatch between his rhetoric and his record.
What is responsible about a budget that projects deficits rising from $459 billion to $1,752 billion in the first year of Obama’s budget, and remaining at $712 billion as far ahead as 2019, when the economy will be growing, is not clear.
Once the glow of his honeymoon starts to fade and the people start catching on, his credibility could sink to Clintonian levels.Â Maybe some people, so enamored with the charismatic chief executive may never catch on.Â Even he seems to believe his own rhetoric.Â In his radio address on Saturday, he said:
I know these steps won’t sit well with the special interests and lobbyists who are invested in the old way of doing business, and I know they’re gearing up for a fight as we speak.Â My message to them is this:
“So am I.”
Conservative bloggers have been having a field day with that one. John Hinderaker, who alerted me to the howler, offered, “lobbyists all over Washington are lighting cigars with $50 bills at the prospect of having $3.7 trillion worth of spoils to divvy up.” Law professor William A. Jacobson calls “Obama’s multi-trillion dollar spending spree . . . a lobbyist’s wet dream. More money will be made by more lobbyists divvying up this pork than in the collective history of the United States.”
Obama still talks like a candidate running against big spending Republicans and Washington’s “culture of corruption.”Â But, he’s president now and is offering us George W. Bush’s domestic policy on steroids, with ever higher levels of federal spending.
The only thing Obama has changed from the “old way of doing business” is the speed.Â I doubt any of his predecessors have ever proposed increasing spending by this amount in such a short time.Â He sure didn’t campaign on spending increases of this magnitude.
He’s spending money our grandchildren haven’t earned yet.
UDPATE:Â At Powerline, John notes we are already seeing a decline in the president’s polls:
What’s happening here is that, while media types swoon over Obama’s way with a teleprompter, voters are focusing on something else–the consequences of higher taxes, unprecedented federal spending and control over the economy, and crushing levels of debt. The more they focus on those things, the less they like them.